Today there are several important signals regarding BTC and the market as a whole.
FIRSTLY, the price of BTC has entered a stable downtrend on the 30-minute timeframe. This is the first hint (for now a hint) of the start of a correction. A stable uptrend on this timeframe had been ongoing since the morning of November 5 at a price of $68,243. Now we should monitor stable trends on the 15-minute and hourly timeframes to confirm or refute the start of a correction.
On the 30-minute timeframe, the trend change almost coincided with a potential low according to candlestick structures, so at least a local bounce may occur. The extreme base target for the decline on this timeframe is $73,588. The potential breakdown high is $75,693.
SECONDLY, on the BTC dominance chart, there is a noticeable decline today and an additional signal indicating the start of a correction on the daily timeframe after the breakdown of the primary reversal signals on November 1. For now, the targets appear to be EMA 50 on the 12-hour timeframe (currently 59.52%) and EMA 50 on the daily timeframe (currently 58.90%).
THIRDLY, an additional candlestick of a potential low appeared on the four-hour timeframe for the dominance of USDT+USDC. It is not worth discussing a full reversal of stablecoin dominance, considering the timeframe. Moreover, a stable downtrend for this indicator persists. However, this is +1 argument that the correction for BTC or at least its range without new ATH (which was set last night at $76,400) will continue.
For now, the situation looks like BTC is awaiting a local correction or range. Altcoins, likely, are in decent positions for spot purchases. Despite the fact that many of them have already risen quite well in recent days - for many, this is just a bounce from the bottom.
If further growth in BTC dominance (which we expect, as there hasn't been a bull run yet) occurs alongside a general rise in the market - this will not be scary for spot purchases. Simply put, liquidity in BTC under such conditions will flow faster than in altcoins.
